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Strong Railroad Profits show US Economy Growing
http://www.democraticunderground.com/1014102097
Union Pacific Corp. said Thursday its first-quarter net income jumped 35 percent as the railroad hauled more cars and crude oil. CSX said earlier this week that its net income jumped 14 percent. Both railroads were hauling more containers of consumer goods and both were able to increase rates enough to offset a decline in coal shipments after a mild winter.
"The economy is stable and slowly growing," said Jack Koraleski, Union Pacific's president and CEO. "We're seeing some generally positive trends."
Many people will be encouraged by the reports because the major freight railroads are considered indicators of the nation's economic health. The amount of cars, chemicals, crops, lumber and containers of imported goods that railroads carry across the country offer insight into those industries.
